premium

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Related to Earned premium: unearned premium

premium

1. an amount paid in addition to a standard rate, price, wage, etc.; bonus
2. the amount above nominal or par value at which something sells
3. 
a. an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
b. (as modifier): a premium offer
4. a fee, now rarely required, for instruction or apprenticeship in a profession or trade
References in periodicals archive ?
The increase in the net profit for the second quarter in comparison with the second quarter of last year relates primarily to increase in net earned premium, lower net claims incurred and higher investment income.
Earned premium growth also accelerated, to 9.4 percent from 3.5 percent.
Its gross premiums have increased 8 per cent and net earned premiums have risen 5 per cent.
The calculation is clearly defined: A carrier takes the earned premiums, subtracts dividends, expenses and losses and develops its underwriting profit.
Aa This profit represents 12.85 per cent of the gross earned premium against 2.03 per cent for the same period in 2008, it added.
Net earned premiums increased to $53 million from $40 million during the same period of 2008.
In total, the 53 P/C carriers pulled in $124 billion in combined earned premium revenue in this period, which represented a 2.1 increase over 2005.
Net earned premiums rose $5.7 billion to $215 billion in first-half 2006 from $209.3 billion in first-half 2005, but earned premium growth stowed to 2.7 percent in first-half 2006 from 3.2 percent in first-half 2005.
As a result of improved underwriting, the industry's loss ratio, which represents the percentage of losses paid out compared to earned premium collected, declined further.
They said earned premiums rose 11.6 per cent, up to $288.7 billion during the first nine months of 2003, but noted earned premium growth for the first nine months of 2002 had been only slightly lower, at 11.4 percent.
The increase in the net profit for the first quarter when compared with the last three months of last year can be primarily attributed to increase in net earned premium and lower net claims incurred.
The analyst believes that in the National Programs division in particular, which accounts for a quarter of its revenue", Brown & Brown's captures up to 30% of earned premium vs.